Funding Alert

Mudrex, a cryptocurrency investment platform, has raised $6.5 million and plans to expand globally and acquire more users

• ByStartupStory     |    February 8, 2022

Mudrex, a Bengaluru-based crypto investment platform, has secured $6.5 million from Arkam Ventures, Tribe Capital, and Bolt by QED Investors in a pre-series A round.

Mudrex, a Y Combinator-backed startup, has grown by 450 per cent in the previous four months, with users including over 100 countries. The company had secured $2.5 million in seed capital four months prior, sponsored by Nexus Venture Partners and Village Global, with Kunal Shah, Anand Chandrashekharan, and Anjali Bansal participating.

Mudrex will use the funds to drive user acquisition, licensing, and expansion in India, the United States, Europe, and Latin America. In stocks, investment instruments including mutual funds, exchange-traded funds, and index funds have made it much easier for merchants to build long-term wealth.

Retail crypto investors, on the other hand, have indeed been left to starve for themselves so far, something Mudrex claims to solve. With more than 50 million individual investors, the crypto sector is fast growing. Mudrex aims to make crypto trading easier by offering products that are comparable to mutual funds and exchange-traded funds (ETFs). The company’s primary product, Coin Sets, has a loyalty rate of up to 90%.

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